★ COMPARISONS · HOME BUYING · TOWNHOUSE VS CONDO
The condo wins by $33.55 a month — $2,239.07 against the townhouse's $2,272.62 — but the townhouse builds $11,681.01 more equity in 10 years. Compare a townhouse with HOA dues against a condo on the same loan terms: the monthly payments, the 10-year cost gap, the equity each builds, and what flips the verdict. This one is the TOWNHOUSE-VS-CONDO comparison — price plus HOA against price plus HOA, with equity and appreciation — the condo-vs-house page is the CONDO-VS-HOUSE comparison — a condo against a house — not a townhouse against a condo; the apartment-vs-condo page is the APARTMENT-VS-CONDO comparison — renting an apartment against buying a condo — not two kinds of ownership; and the rent-vs-buy-house page is the RENT-VS-BUY comparison — renting against buying a house — not two kinds of ownership. No townhouse-vs-condo page exists on this site — this one is the first.
A $400,000 townhouse with $250 a month of HOA dues against a $363,700 condo — the September 2026 NAR median — with $400 a month of HOA dues, on the same loan. The condo wins by $33.55 a month — but the townhouse builds $11,681.01 more equity in 10 years. Put your own prices in: the verdict follows the gap and the dues, not the labels.
It means that, on the defaults, the condo costs $33.55 a month less than the townhouse: $2,239.07 a month against $2,272.62. The townhouse loan is $320,000 — 80% of $400,000 — and its P&I at 6.5% over 30 years is $2,022.62 a month; add the $250 HOA and the townhouse costs $2,272.62 a month. The condo loan is $290,960 — 80% of $363,700, the September 2026 NAR median — and its P&I is $1,839.07 a month; add the $400 HOA and the condo costs $2,239.07 a month. Over 10 years the monthly gap adds up to $4,026.31. But the monthly cost is only half the comparison: the townhouse also builds more equity, because a bigger loan pays down more principal. After 10 years the townhouse balance is $271,283.60, so the townhouse equity is $400,000 − $271,283.60, which is $128,716.40; the condo balance is $246,664.62, so the condo equity is $363,700 − $246,664.62, which is $117,035.38. The townhouse builds $11,681.01 more equity — and with 3% a year of appreciation the values reach $537,566.55 and $488,782.39, and the equity lead with appreciation grows to $24,165.18.
The monthly winner and the equity winner are different homes. The condo wins the month by $33.55, and the townhouse wins the decade on equity by $11,681.01. A buyer who only looks at the monthly payment picks the condo; a buyer who only looks at equity picks the townhouse. The right question is which one matters more to you — the $33.55 a month you keep now, or the $11,681.01 of equity you hold in 10 years.
The HOAs are the whole decision. At $250 a month the townhouse HOA is cheap enough that the townhouse still loses the month by $33.55 — but at $216 a month the townhouse wins by $0.45, and at $217 it loses by $0.55. On the other side, at a $600 condo HOA the townhouse wins by $166.45 a month. HOA dues also rise over time and can jump with a special assessment, which this calculator does not model — ask for each association's budget and its history of increases before you trust any HOA number.
The headline gap is small — real markets are not. The headline puts the townhouse $36,300 above the condo — an example price against the NAR median — and the condo wins by only $33.55 a month. But medians vary wildly by market: in Florida the September 2026 condo-townhouse median is $293,500, a gap of $106,500 from the example townhouse, and at that condo price the condo wins by $388.52 a month. In California the August 2026 condo/townhome median is $640,000 against a $901,420 single-family median, and in Denver Metro the September 2026 attached-home median is $390,000 against $635,000 detached. Put your own local prices in: the verdict follows the gap, not the labels. And note the townhouse price here is an example, not a median: no national townhouse median is published — the National Association of Realtors reports single-family and condo/co-op medians only, and its September 2026 condo/co-op median is $363,700.
On the defaults: townhouse $400,000 plus $250 a month HOA against a $363,700 condo plus $400 a month HOA; 20% down, 6.5% over 30 years, 3% appreciation, 10-year horizon.
And the other way: a $600 condo HOA makes the condo cost $2,439.07 a month, so the townhouse wins by $166.45 a month. And at the Florida September 2026 condo-townhouse median — $293,500 against the example townhouse — the condo wins by $388.52 a month.
The defaults are a $400,000 townhouse (an example price) with $250 a month of HOA dues against a $363,700 condo — the September 2026 NAR median — with $400 a month of HOA dues, both with 20% down, a 6.5% fixed rate over 30 years, 3% a year of appreciation and a 10-year horizon — chosen because the round townhouse price makes the arithmetic clean and the verdict interesting: the condo wins the month and the townhouse wins the equity. The townhouse price is an example, not a median: no national townhouse median is published, so put your own local prices in. They are a starting point, not a quote: the model counts principal, interest and HOA only. Property tax, homeowners insurance, maintenance, and the associations' special assessments are not in it — a townhouse usually costs more to maintain than a condo, and either association can levy a special assessment of thousands of dollars for a roof or an elevator, which no monthly figure captures. The HOAs are assumed flat; in reality they rise, and a building with a thin reserve fund is the one that levies assessments. Appreciation is an assumption, not a promise: at 0% the equity is just the principal paid down, and at −2% a year both homes lose value.
These notes repeat in every explainer section because this page is built to be read start to finish: the monthly winner and the equity winner are different homes; the HOAs are the whole decision; and the headline gap is small while real markets are not.
| Output | Formula | What it means |
|---|---|---|
| Townhouse P&I | townhouse loan × amort. factor | $2,022.62. |
| Townhouse/month | P&I + HOA | $2,272.62. |
| Condo P&I | condo loan × amort. factor | $1,839.07. |
| Condo/month | P&I + HOA | $2,239.07. |
| Winner | lower monthly cost | Condo. |
| Monthly gap | difference | $33.55. |
| 10-year gap | monthly gap × 120 | $4,026.31. |
| Townhouse equity (10 yr) | price − balance | $128,716.40. |
| Condo equity (10 yr) | price − balance | $117,035.38. |
| Equity gap | townhouse equity − condo equity | $11,681.01. |
| Townhouse value (3%/yr) | price × 1.03^10 | $537,566.55. |
| Condo value (3%/yr) | price × 1.03^10 | $488,782.39. |
| Verdict | in words | The condo wins by $33.55 a month. |
| Reverse: Largest townhouse HOA at which the townhouse still wins per month | step | 216: Townhouse $2,238.62/mo (P&I $2,022.62 + HOA $216.00), condo $2,239.07/mo (P&I $1,839.07 + HOA $400.00): Townhouse wins by $0.45/mo; equity after 10 years: townhouse $128,716.40 vs condo $117,035.38 (townhouse leads by $11,681.01). |
| Reverse: Smallest condo price at which the condo costs more per month | step | 371000: Townhouse $2,272.62/mo (P&I $2,022.62 + HOA $250.00), condo $2,275.98/mo (P&I $1,875.98 + HOA $400.00): Townhouse wins by $3.36/mo; equity after 10 years: townhouse $128,716.40 vs condo $119,384.46 (townhouse leads by $9,331.94). |
| Reverse: Largest townhouse price at which the townhouse still wins per month | step | 393000: Townhouse $2,237.22/mo (P&I $1,987.22 + HOA $250.00), condo $2,239.07/mo (P&I $1,839.07 + HOA $400.00): Townhouse wins by $1.84/mo; equity after 10 years: townhouse $126,463.86 vs condo $117,035.38 (townhouse leads by $9,428.48). |
| Reverse: Smallest horizon in years for the townhouse equity lead to reach $25,000 | step | 24: Townhouse $2,272.62/mo (P&I $2,022.62 + HOA $250.00), condo $2,239.07/mo (P&I $1,839.07 + HOA $400.00): Condo wins by $33.55/mo; equity after 24 years: townhouse $279,677.21 vs condo $254,296.50 (townhouse leads by $25,380.71). |
| Condo HOA $600/mo (townhouse wins) | same model | Townhouse $2,272.62/mo (P&I $2,022.62 + HOA $250.00), condo $2,439.07/mo (P&I $1,839.07 + HOA $600.00): Townhouse wins by $166.45/mo. |
| No HOA either side | same model | Townhouse $2,022.62/mo (P&I $2,022.62 + HOA $0.00), condo $1,839.07/mo (P&I $1,839.07 + HOA $0.00): Condo wins by $183.55/mo. |
| 5-year horizon | same model | Townhouse $2,272.62/mo (P&I $2,022.62 + HOA $250.00), condo $2,239.07/mo (P&I $1,839.07 + HOA $400.00): Condo wins by $33.55/mo. |
| Townhouse $450,000 | same model | Townhouse $2,525.44/mo (P&I $2,275.44 + HOA $250.00), condo $2,239.07/mo (P&I $1,839.07 + HOA $400.00): Condo wins by $286.38/mo. |
| Condo $400,000 | same model | Townhouse $2,272.62/mo (P&I $2,022.62 + HOA $250.00), condo $2,422.62/mo (P&I $2,022.62 + HOA $400.00): Townhouse wins by $150.00/mo. |
| Rate 5.00% | same model | Townhouse $1,967.83/mo (P&I $1,717.83 + HOA $250.00), condo $1,961.94/mo (P&I $1,561.94 + HOA $400.00): Condo wins by $5.89/mo. |
| No appreciation | same model | Townhouse $2,272.62/mo (P&I $2,022.62 + HOA $250.00), condo $2,239.07/mo (P&I $1,839.07 + HOA $400.00): Condo wins by $33.55/mo. |
| Real Florida data: condo-townhouse $293,500 vs townhouse $400,000 (example) | same model | Townhouse $2,272.62/mo (P&I $2,022.62 + HOA $250.00), condo $1,884.10/mo (P&I $1,484.10 + HOA $400.00): Condo wins by $388.52/mo. |
| Appreciation 5%/yr | same model | Townhouse $2,272.62/mo (P&I $2,022.62 + HOA $250.00), condo $2,239.07/mo (P&I $1,839.07 + HOA $400.00): Condo wins by $33.55/mo. |
| 30-year horizon | same model | Townhouse $2,272.62/mo (P&I $2,022.62 + HOA $250.00), condo $2,239.07/mo (P&I $1,839.07 + HOA $400.00): Condo wins by $33.55/mo. |
| Townhouse HOA −$50/mo | same model | Townhouse HOA dues — $0 or above.. |
| Townhouse price $0 | same model | Prices — more than $0.. |
| Rate 0% | same model | Townhouse $1,138.89/mo (P&I $888.89 + HOA $250.00), condo $1,208.22/mo (P&I $808.22 + HOA $400.00): Townhouse wins by $69.33/mo. |
| Horizon 0 years | same model | Horizon — more than 0 years.. |
| Down payment 100% | same model | Down payment — 0% or more, and less than 100%.. |
| Appreciation −2%/yr | same model | Townhouse $2,272.62/mo (P&I $2,022.62 + HOA $250.00), condo $2,239.07/mo (P&I $1,839.07 + HOA $400.00): Condo wins by $33.55/mo. |
| Condo $400,000 = townhouse price | same model | Townhouse $2,272.62/mo (P&I $2,022.62 + HOA $250.00), condo $2,422.62/mo (P&I $2,022.62 + HOA $400.00): Townhouse wins by $150.00/mo. |
Figures are the model's own totals on the numbers you type, computed to the cent from unrounded values: the P&I figures come from the amortization factor, the equity is the home's value minus the remaining balance, and the 10-year gap is the exact monthly gap times 120 months — the displayed $33.55 a month is rounded, so $33.55 × 120 is $4,026.00 on paper and the exact figure is $4,026.31. The real-world anchors are the National Association of Realtors' September 2026 Existing-Home Sales report (nar.realtor/newsroom/existing-home-sales-increased-1-5-in-september-according-to-nar-report), reported October 13, 2026: the median single-family home price was $422,700 and the median condo/co-op price was $363,700, both up 1.2% from a year earlier, with an overall median of $417,500; and Florida Realtors' September 2026 report (floridarealtors.org/newsroom/flas-housing-market-continues-recent-trends-sept-and-3q-2026): the Florida condo-townhouse median was $293,500, down 1.8% from a year earlier, against a single-family median of $415,000, up 1.2%. NAR publishes no national townhouse median, which is why the townhouse price on this page is a labeled example price. For scale, California's August 2026 condo/townhome median was $640,000 against $901,420 for a single-family home (California Association of Realtors), and Denver Metro's September 2026 attached-home median was $390,000 against $635,000 detached (REcolorado). The model leaves out property tax, homeowners insurance, maintenance, HOA increases and special assessments, and the value of a yard, a garage and no shared walls — a townhouse usually costs more to maintain than a condo, and either association's special assessment can run to thousands of dollars. Appreciation is an assumption: at 0% the equity is just the principal paid down, and the model does not predict prices.
The condo wins by $33.55 a month — townhouse $2,272.62 a month (P&I $2,022.62 plus $250.00 HOA) against condo $2,239.07 a month (P&I $1,839.07 plus $400.00 HOA). Over 10 years that is $4,026.31. Equity at 10 years: townhouse $128,716.40 vs condo $117,035.38 — the townhouse builds $11,681.01 more. At 3% a year the values reach $537,566.55 and $488,782.39. With a $600 condo HOA the townhouse wins by $166.45 a month. Florida September 2026: condo-townhouse median $293,500 vs single-family $415,000 — at the $293,500 condo price the condo wins by $388.52 a month. National anchor: NAR September 2026 condo/co-op median $363,700. Largest townhouse HOA at which the townhouse still wins per month: 216. Smallest condo price at which the condo costs more per month: 371000. Largest townhouse price at which the townhouse still wins per month: 393000. Smallest horizon in years for the townhouse equity lead to reach $25,000: 24. Source: Bright Side Kit, brightoolbox.com.
On the defaults, no by $33.55 a month — the townhouse costs $2,272.62 a month (P&I $2,022.62 plus $250 HOA) against the condo's $2,239.07. But the townhouse builds $11,681.01 more equity in 10 years, so cheaper monthly is not cheaper overall.
A townhouse HOA of $216 a month — at $216 the townhouse wins by $0.45 a month, and at $217 the condo wins by $0.55. On the other side, a $600 condo HOA makes the townhouse win by $166.45 a month.
Yes on the defaults — after 10 years the townhouse holds $128,716.40 of equity and the condo holds $117,035.38, a lead of $11,681.01. The townhouse builds more because the bigger loan pays down more principal, and the lead grows with appreciation.
The September 2026 NAR condo/co-op median is $363,700, and Florida Realtors' September 2026 condo-townhouse median is $293,500 against a $415,000 single-family median. At the Florida condo price the condo costs $1,884.10 a month against the townhouse's $2,272.62, so the condo wins by $388.52 a month. Nationally, no townhouse median is published.
At 3% a year the values reach $537,566.55 for the townhouse and $488,782.39 for the condo in 10 years, and the equity lead with appreciation grows to $24,165.18. At 5% a year the values reach $651,557.85 and $592,428.98.
Property tax, homeowners insurance, maintenance, HOA increases and special assessments. A townhouse usually costs more to maintain than a condo, and either association can levy a special assessment of thousands of dollars for a roof or an elevator.
The townhouse is ahead on equity from the start — the down payments differ by $7,260 — and the lead reaches $25,000 after 24 years. After 10 years it is $11,681.01, and after 30 years, with the loans paid off, it is $36,300.
Yes — at $400,000 for both, the townhouse wins by $150.00 a month, because the condo still pays the $400 HOA on top of the same P&I. Same price, different answer: the HOA decides it.